WGU C722 Project Management Terminology Exam Prep 2024/2025 With 100% Correct Answers

WGU C722 Project Management Terminology Exam Prep 2024/2025 With 100% Correct Answers operations - the ongoing, daily activities of an organization that produces revenue and expense Pg 10 projects - a temporary endeavor with a specified start and end date Pg 10 business strategy - the activities, methods, tactics, etc. that will be employed to meet the business's goals Pg 12 SMEs (subject matter experts) - a person who is an authority in a particular area or topic Pg 2 portfolio - a group of related programs that support a long-term company goal or objective Pg 13 program - a group of related projects Pg 13 project - an activity or group of activities to generate a new, unique product, service, or results to support that program Pg 13 charter - a document that, like a contract, is agreed upon by the sponsor and key stakeholders. It defines the project and authorizes the resources, roles, responsibilities, authorities, and scope for the project Pg 13 Specific, measurable, attainable, relevant, timely - Criteria of specific objectives that are unique to a project are referred to as SMART which stands for what Pg 15 triple constraint - cost (budget), schedule (time), and scope (deliverables) Pg 17